EGM on July 23 to approve business diversification and fund reallocation
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Chandni Machines EGM on July 23, 2026 seeks shareholder approval for two resolutions. First, to add new businesses in aluminium, zinc, aerospace and drone components, marine and defence shipbuilding, and chemicals and petroleum trading, citing challenges in its second-hand machinery import business. Second, to reallocate Rs 29.09 crore of unutilised proceeds from an undersubscribed Rs 41.01 crore preferential issue. The Rs 5 crore subsidiary investment head is dropped, working capital allocation rises to Rs 9.76 crore, and funds are redirected to support the new business lines.
Major strategic pivot from second-hand machinery into metals, defence shipbuilding and chemicals. Fund reallocation signals diversification push; outcome depends on shareholder vote.